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Analytical credit dataset, the integrated reporting framework and the banks’ integrated reporting dictionary: Do we overshoot? Or do we undershoot?
The demand for more complete, timely and disaggregated information — at an individual institution and even instrument level — became pressing during the financial crisis. As a result, central banking statistics moved towards granular data collection, eg as regards loans (with analytical credit datasets (AnaCredit)) and securities, strengthening policymaking in various respects, from monetary policy to macro-prudential policies supported by in-depth economic research and analyses. Reporting agents also benefit from a higher degree of standardisation, comparability and stability of reporting over time. Significant returns on investment are expected to materialise for both policy-makers and the financial industry through enhancing cross-country comparability and limiting redundancies in the data collection. With the banks’ integrated reporting dictionary (BIRD) and the integrated reporting framework (IReF) the European System of Central Banks (ESCB) is acting to gradually automate and optimise reporting from banks parallel to the progressing digitalisation in the financial industry.
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Werner Bier is deputy director general statistics at the ECB, overseeing a wide range of central banking and supervisory data and statistics. He is well connected in the international statistical fora and has chaired several international committees and groups. Before joining the European Monetary Institute (EMI), the forerunner of the ECB, he was an official of the European Commission and worked in the economics department of the Deutsche Bundesbank.
Jean-Marc Israël is head of division in the ECB DG-Statistics. Over 20 years he has successively dealt with external statistics, eg balance of payments and effective exchange rates, with monetary and financial statistics covering nearly all financial sectors in the euro area, eg banks, insurance, investment funds, securitisation vehicles, and market indicators such as (daily) money market rates, (monthly) bank retail interest rates or payment statistics. He now steers large projects related to banks’ reporting, notably AnaCredit, the banks’ integrated reporting dictionary and the integrated reporting framework. He started his career at Banque de France and has coauthored three ECB Occasional Papers.
Antonio Colangelo is principal economiststatistician in the analytical credit and master data division of the ECB as of June 2017, where he coordinates the work towards the development of the integrated reporting framework. Previously, he worked in the monetary and financial statistics division of the ECB, with a focus on methodological aspects of MFI balance sheet statistics, the ECB reference dataset to support monetary analysis. He also contributed to the design and implementation of the targeted longer-term refinancing operations. Before joining the ECB in 2006, he worked as an assistant professor of statistics at the University of Insubria, Italy.
Riccardo Bonci works as a senior economiststatistician in the analytical credit and master data division of the ECB, where, as part of the AnaCredit team, he has been following all matters related to the unique identification of counterparties and their reference information. Before joining the AnaCredit team, he was in charge of the flow-of-funds analysis and economic projections in the monetary policy stance division at the ECB, and in the research department of the Bank of Italy, where he focussed on financial accounts and household wealth estimation.